First deal accomplished!

[Andre Sanchez]

I would like to take a moment to share my story. I was interested in real estate investing several years ago but always felt it was not attainable. A few months ago I reached a point in my life where I have no debt (besides my primary residence) and able to save a decent amount to money each month. One day while performing investment research, I stumbled across Bigger Pockets and instantly became hooked. I began watching/listening to nearly every podcast and visited this forum nearly everyday. Heavily reliant on information from Bigger Pockets and other additional sources, I found my knowledge and confidence levels begin to rise to the point I felt this could be something I could actually do. I often heard the phrase "take action" and every time I did it felt somewhat personal. After exploring several different markets and evaluating what felt like hundreds of deals, I made offers on two different multi-family units. The first was denied but the second was accepted and am now under contract. I want to thank the Bigger Pockets community as I know without it, I likely would have never taken action. I am excited to continue learning and expanding my portfolio.

[Andre Sanchez]

@Reggie Maggard Here is my breakdown:

4-plex each unit 1 bedroom 1 bath, total sq ft 3,260

Purchase price: $204,000

Total cash investment: $55,170

Expected annual rental income: $27,063 - two units currently renting under market value (long term tenants)

Total annual expenses: $10,400

Annual cash flow before taxes: $6,317

Cash on cash: 11%

CAP rate: 8.1%

The unit has recently had a new roof installed along with new windows. Overall it is a bit dated so there is room to add value and increase rents.